The compound, 12-hydroxy-13-hydroxymethyl-3,5,7-trimethyltetradeca-2,4-dien-1,14-dioic acid 12,14-lactone, was identified as an antibiotic fungal metabolite in 1970 [Aldridge et al., Chem. Comm., 1970, p. 639]. This compound has also been found to have antifungal and antihypercholesterolemic properties as described in co-pending application Ser. No. 825,496 filed contemporaneously herewith and co-pending application Ser. No. 822,501 Jan. 27, 1986 filed previously.